CTGG12016-712 Contract Amend 1

• Contract/PO #: CTGG12016-712
• Contract/PO #: C150408
• Contractor Name: San Juan Water Conservancy District
• Contract Type: Grant
• Loan Projects - Doc Type: Contract Documents

AMENDMENT TO
AGREEMENT TO RESTRUCTURE COLORADO WATER
CONSERVATION BOARD DRY GULCH RESERVOIR
LOAN CONTRACT NUMBER C150261
THIS AMENDMENT TO AGREEMENT TO RESTRUCTURE COLORADO
WATER CONSERVATION BOARD DRY GULCH RESERVOIR
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NTRAC4T
NER C150261 ("Amendment") is entered into this ; 7 day of
PiE',/L-- ,201 L,by and between the State of Colorado,acting by and through the
Department of Natural Resources, Colorado Water Conservation Board ("CWCB"), the Pagosa
Area Water And Sanitation District, acting by and through its Water Activity Enterprise
("PAWSD"), and the San Juan Water Conservancy District("SJWCD"). PAWSD and SJWCD
are each quasi-municipal corporations and political subdivisions of the State of Colorado.
WHEREAS, the Parties entered into the Agreement To Restructure Colorado Water
Conservation Board Dry Gulch Reservoir Loan Contract Number C150261 (the "Restructure
Agreement") on July 22, 2015, which Restructure Agreement contemplates certain amendments
to be made to said Loan Contract Number C150261 (such amendments being referred to herein
as the"Amended Loan Contracts");and
WHEREAS, the Parties have concluded that certain provisions of the Amended Loan
Contracts contemplated by the Restructure Agreement would not be allowed by Article XI,
Section 6 of the Colorado Constitution and should not have been included in the Restructure
Agreement, i.e., Section 2.2.8.2 and Section 2.4.5.2, which sections both provide that the
Amended Loan Contracts will grant a "lien on the entire Running Iron Ranch" in favor of the
CWCB;and
WHEREAS,the Parties desire to amend the Restructure Agreement as described below.
NOW, THEREFORE, in consideration of the promises of the Parties hereto and other
good and valuable consideration,the receipt and adequacy of which are hereby acknowledged,it
is agreed that the Restructure Agreement is amended as follows:
1. Section 2.2.8.2 is stricken in its entirety.
2. Section 2.4.5.2 is stricken in its entirety.
3. Section 2.2.6 is amended by striking the words in the third line"will be allowed
to"and inserting the word"shall".
4. Section 5.1.1 is amended by replacing the last sentence with the following
sentence:"If CWCB's election to exercise this right of first refusal results in Loan
A and Loan 13 being paid off, then CWCB shall mark both Loan A and Loan B as
paid in full."
5. The following new sections are added to the Restructure Agreement:
APPENDIX A